1853 H10C Arrows PR(PCGS#4431)

November 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3026

Grade

PR61

Price

66,000

Lot Description

A significant half dime, representing only the fourth appearance of an undisputed Proof of this issue in decades (which total represents only three different coins). Both sides are close to brilliant, but do possess some light iridescent silver and pale gold tinting. The rims are square and sharp, with a distinct wire edge tracing the circumference on the obverse from approximately 1 o'clock, clockwise around to 11:30. Light striae are scattered throughout, with the lines most prominent in the reverse field, but also easily seen in the obverse field. There is also appreciable reflectivity in the fields, and lightly frosted devices. Wispy hairlines and a somewhat muted appearance explain the Proof-61 assessment from NGC; a tiny planchet void (as made) in the right obverse field, before Liberty's knee, is the most useful identifier for provenance purposes.<p>The Proof 1853 Arrows half dime is an elusive and enigmatic issue that is rivaled by few others in the Liberty Seated series. Just five examples are thought to have been struck, and only three or four can be accounted for today. Walter Breen dedicated nearly a half page of text to the Proof 1853 Arrows half dime in his 1977 <em>Encyclopedia of United States and Colonial Proof Coins</em>. The plate coin therein is one of only three Proof 1853 half dimes that we have handled in recent years, the PCGS/CAC Proof-64 Boyd-Landau specimen that realized $96,000 in our March 2018 Baltimore Auction. The second, also certified PCGS/CAC Proof-64, was offered in our Spring 2023 Auction as lot 3098. The present example is the third, and is returning to us after being sold in our Winter 2014 Baltimore Auction, lot 10012.<p>Indeed, appearances of Proof 1853 Arrows half dimes have been remarkably scant in recent decades, even with the emergence of the magnificent collections of Eric P. Newman and D. Brent Pogue, both of which lacked an example. Similarly, Louis E. Eliasberg did not acquire an example as part of his quest to collect every U.S. issue, and it was the only issue missing from Eugene H. Gardner's collection, which was widely considered to be the greatest collection of Liberty Seated coinage ever assembled. Gardner himself admitted "I've collected all series. The dollars, half dollars, quarters, dimes, half dimes. They are all complete, in high-grade mint state, probably averaging [a grade of] close to 65 and 66. And I've also collected them complete in proof, from 1837 to 1891 - in all series, missing only one coin, the 1853 half dime."<p>The John Jay Pittman Collection featured a rather controversial example, historically considered a Proof but cataloged as a circulation strike by David Akers in his October 1997 sale. The Pittman specimen had been acquired as a Proof from David Bullowa's sale of May 1952, and was shown to Breen around the time of the sale; he agreed to its Proof status. Bidders at the Pittman sale apparently agreed with Bullowa, Breen, and Pittman, as it went on to realize an extraordinary $77,000, the third highest price realized for any half dime in the collection, behind only the Gem 1792 and the Gem 1797 15 Stars. Our sale of the 1853 Collection in November 2014 featured two remarkable 1853 half dimes. The present example, as previously related, which was certified as a Proof by NCS at the time; the other was a Superb Gem that was deemed a circulation strike by PCGS, but was from the same die pair (V-4) as the Bullowa-Pittman specimen and the Boyd-Landau example.<p>Despite the few examples with claims to a Proof status (or any examples that have been viewed as such in the past), one fact remains clear: this piece and the two specimens in PCGS/CAC Proof-64 holders are the only Proof 1853 Arrows half dimes certified by PCGS and NGC. These coins represent necessity for anyone assembling a collection of Liberty Seated or Proof coinage. With market appearances for these fabled rarities understandably few and far between, collectors will undoubtedly recognize this important opportunity and bid accordingly.